I have been interested in country shop (freehold) and using the 11 second rule, it is saying no, but after accounting for all expenses, I am cashflow positive of $10 per week (return 2%), it sounds like a pretty bad return? Therefore, I was wondering is there anybody who wraps commercial property (so as to maximize my return) and also what is the initial costs about the purchase? From what I understand, there shall not be any GST, what about stamp duty, title transfer, registration of title, registration of mortgage?
If it stacks up, this could possibly become my first commercial wrap deal. Is there any website that discusses about the regulatory costs of purchasing commercial properties.
Cheers
johnWant to join financial independence before 31 years old, currently 25
If you are going to wrap a property, you first have to own it. So all the regular costs associated with a purchase will apply and also, a bit extra in legal costs.
Terryw
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Click below to email meTerryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
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